Benchmark: U3O8 spot (UxC/TradeTech). The same tonne prices differently by origin — freight, quality, sanctions and policy set the differential. Deep dive →
| Origin | Basis | Price | vs benchmark | Market note |
|---|---|---|---|---|
🌐 Spot U3O8 Global · reference | Spot | 98.25 | Benchmark | Thin spot market; most volume is term-contracted |
🌐 Long-term price Global · utility contracting | Term contract | 110.25 | +12.00 (+12.2%)narrowing | Term price sits above spot — the number utilities actually buy at |
🇨🇦 Cameco (Cigar Lake) Canada · high-grade | FOB | 101.25 | +3.000 (+3.1%)stable | Secure, high-grade supply commands a small premium |
🇷🇺 Conversion/enrichment Russia · conversion premium | Fuel-cycle service | 104.25 | +6.000 (+6.1%)stable | SWU/conversion premium; sanctions risk on Russian services |
🇰🇿 Kazatomprom (ISR) Kazakhstan · ~40% of mine supply | FOB | 96.25 | -2.000 (-2%)stable | Low-cost in-situ recovery |
🇳🇦 Namibia / Australia Namibia · steady | FOB | 97.25 | -1.000 (-1%)stable | Conventional mine supply |
Differentials are indicative desk assessments over the live benchmark — 90-day spread trend shown per origin.
Track physical flows on the live vessel map →Indicative term structure · Backwardation
Converted from 98.25 USD/lb · indicative FX
Uranium U3O8 is traded in the energy minerals segment, with price discovery referenced against OTC. The chart above shows the trailing indicative price path. Physical parcels of Uranium U3O8 can be sourced or placed through the Off Market desk, listed openly on the Marketplace, or intermediated by a specialist broker.
Long-term contracting activity picked up as reactors secure future supply, keeping U3O8 sentiment constructive despite thin spot volumes.